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Indiana Limestone Co. digs out of deep hole

July 26, 2014
Anthony Schoettle
In February, Indiana Limestone Co. filed for bankruptcy. But two months later, Chicago-based Wynnchurch Capital Ltd. bought the quarry company out of bankruptcy. ILC is now digging out and looking at a brighter horizon.
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Sallie Mae spinoff Navient tries not to shrinkRestricted Content

July 12, 2014
J.K. Wall
Navient Corp., which employs 2,300 in its Fishers, Indianapolis and Muncie offices, is in the running for a big contract with the U.S. Department of Education even as the student-loan-servicing company faces criticism after admitting it overcharged military service members by millions of dollars.
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Greensburg factory to invest $28M, add 250 workers

July 8, 2014
 Associated Press and IBJ Staff
Workers will be hired as global firm Valeo buys new equipment for its 400,000-square-foot engine cooling factory to start new product lines for Honda, Nissan, Chrysler and Ford.
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Beck’s Hybrids prospers against far bigger firms

April 19, 2014
Andrea Muirragui Davis
When Lawrence and Francis Beck planted six acres of hybrid corn on their Hamilton County farm almost eight decades ago, the father and son sowed the seeds of a family business that’s still growing despite widespread industry consolidation.
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IEDC urging government bets on spec-buildingRestricted Content

April 12, 2014
Kathleen McLaughlin
The Indiana Economic Development Corp. is encouraging local governments to help finance speculative industrial buildings, which could land new businesses but could put at risk hundreds of thousands in taxpayer dollars.
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First family gives TLC to little-used Brown County cabinRestricted Content

February 15, 2014
Kathleen McLaughlin
The Pence administration has overseen the six-figure renovation of a Brown County cabin that one political observer calls Indiana’s Camp David.
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Investors seek payoff from Indiana oil wells that big players ignore

January 25, 2014
Chris O'Malley
Indiana is experiencing a mini oil-boom, thanks to some big producers, but some small, private investors are also in on the game, through Indianapolis-based Midwest Energy Partners, formed four years ago by former CountryMark executive Bill Herrick.
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Riley building statewide physician network

January 25, 2014
J.K. Wall
Riley Hospital for Children at Indiana University Health has signed up 200 area pediatricians to be part of its new physician network. The move is the first step in an effort to build a statewide network of doctors that would use the Riley brand.
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Company aims to open $350M plant next year

December 30, 2013
Associated Press
Magnetation Inc. already has started construction on several large buildings in the town of Reynolds, and intends to start producing iron ore pellets by the second half of 2014.
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Wind farm says Duke violated contract

December 21, 2013
Dan Human
The owner of a northern Indiana wind farm says Duke Energy Indiana Inc.—which had agreed to buy energy the 87-turbine operation produces—breached its contract, “proving disastrous.
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Shares of Indiana retailers surge in 2013Restricted Content

December 7, 2013
Scott Olson
Shares of The Finish Line Inc., HHGregg Inc. and Shoe Carnival Inc. have been on a tear this year, rebounding to outperform the major stock indexes and rising at least 40 percent in value through the first of December. By comparison, the S&P 500 has gained about 28 percent.
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Suit slams ex-insiders of Bank of IndianaRestricted Content

December 7, 2013
Chris O'Malley
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
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Pet show barking to audiences in six states; more markets on tap

November 9, 2013
Chris O'Malley
An Indianapolis-based pets TV show now seen in six states is galloping off in search of new territory—much like a fearless puppy.
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Fee push helping banks overcome low interest ratesRestricted Content

November 9, 2013
Chris O'Malley
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.
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Firm plans $16 million revival of Kokomo plant

October 15, 2013
 IBJ Staff
A maker of porcelain products plans to invest $16 million to purchase, renovate and equip a vacant pottery production plant in Kokomo and create as many as 140 jobs by 2014.
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$120M lawsuit over central Indiana factory moves ahead

October 14, 2013
Associated Press
The appeals court declined to hear an appeal from Getrag Transmission of a Tipton County judge's ruling that the lawsuit filed by Walbridge Construction should go to trial or settlement.
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RV exec seeking new start in IndyRestricted Content

September 28, 2013
Dan Human
A member of one of the recreational vehicle industry’s elite families hopes to get a fresh start in Indianapolis by launching a manufacturer of super-high-end RVs.
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Mission shift at Camp Atterbury to trigger 207 layoffs

September 9, 2013
 IBJ Staff and Associated Press
The layoffs at the end of September will come as the base transitions from a mobilization site for U.S. troops to a mission focusing more on training.
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Omnicity lured teen to invest, state saysRestricted Content

August 31, 2013
Chris O'Malley
State securities regulators allege that principals of Omnicity Corp. goaded a 19-year-old to invest $100,000 from his inheritance into the wireless broadband firm so that it could clinch the purchase of an Ohio carrier in 2010.
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Firm passed over for Ball State planetarium cries foulRestricted Content

July 13, 2013
Kathleen McLaughlin
Bowen Technovation President Jeff Bowen says the university unfairly favored his Florida-based competitor to install a sophisticated audio-visual system for its new planetarium, but Ball State maintains there was nothing wrong with its process for awarding the nearly $2 million contract.
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Out-of-the-way club caters to members' need for speed

June 29, 2013
Anthony Schoettle
Successful professionals that double as weekend race warriors and gear heads are drawn to a racetrack and club on the edge of the middle of nowhere by their love of cars and need for speed.
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Cummins looking to build downtown Indy officesRestricted Content

June 8, 2013
Scott Olson
Cummins Inc. wants to expand its downtown Indianapolis presence and is searching for land to construct an office building that would double the space the Fortune 500 company occupies in the city, several local office brokers said.
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FDIC sues executives over Irwin failureRestricted Content

May 25, 2013
Chris O'Malley
The Federal Deposit Insurance Corp. has filed suit against four former officers of defunct Irwin Financial Corp. banks, alleging they “closed their eyes to known risks” in approving loans that contributed to the banks’ 2009 takeover by regulators.
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Charges flew after IU-Kokomo chancellor's sudden exitRestricted Content

April 20, 2013
J.K. Wall
When Michael Harris resigned abruptly last September as chancellor of Indiana University’s Kokomo campus, he did not go quietly, according to a series of emails he exchanged with IU administrators.
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Carbon Motors pulls equipment from Indiana plant

March 31, 2013
Associated Press
A company that had hoped to open a high-tech police car plant employing as many as 1,500 workers in eastern Indiana has cleared out its plant amid the resignation of a key official.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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